(MENAFN - Iraq Business News) Nasdaq Inc. (Nasdaq:NDAQ) and the Iraq Stock Exchange (ISX) have signed a new agreement to extend their market technology relationship.
As part of the agreement, Nasdaq will continue providing ISX with matching engine and central securities depository (CSD) technology. This new agreement marks the next chapter of a technology partnership between Nasdaq and ISX which originated in 2007.
Taha A. Abdulsalam, CEO, Iraq Stock Exchange, said:
"We are pleased to build on our successful partnership with Nasdaq. Using Nasdaq's market technology is a clear indication to investors, regulators and other exchanges that Iraq will bolster its efforts into becoming an important financial center for regional and global businesses."
Michèle Carlsson, Managing Director, Nasdaq in the Middle East and Africa, said:
"By upgrading to the latest Nasdaq technology, ISX will be joining a community of exchanges deploying high-end, multi-asset trading technology that complies with international standards. We look forward to supporting ISX as they continue evolving and innovating their marketplace."